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Highlights
- The global crypto market has been a witness to strong rallies among major cryptocurrencies.
- While on Monday, almost all the popular cryptos soared high. at mid-week, the excitement has eased out but not vanished.
- Solana, Shiba Inu, Dogecoin, Ethereum, etc., witnessed a considerable climb in their prices over the last week.
The cryptocurrency bull run is on, and its adoption is soaring among crypto enthusiasts. With a plethora of cryptocurrencies in the market, from Bitcoin and Shiba Inu to Ethereum and Cardano, tech-savvy investors are making the most of the situation.
As we reach mid-week, crypto analysts have minutely observed the recent action in the market.
With a 2% gain on Monday, the global crypto market reached the US$2.63-trillion mark by Tuesday.
Source: Copyright © 2021 Kalkine Media
Bitcoin continues to show vigour
With strong bearish trends till Monday, the global crypto market observed a lukewarm response on Tuesday, though on a positive note.
As it was seen over the weekend, world's largest cryptocurrency, Bitcoin, grabbed all the headlines and was trading on a high note until Monday as it soared above the US$63,000 level. However, the same momentum cannot be seen currently.
Interesting Read: What caused Bitcoin’s price rise in last one week?
Nonetheless, Bitcoin lovers' excitement has still not faded as it has crossed the US$60,000 mark at the time of writing.
On 27 October, at the time of writing, Bitcoin was trading at US$60,867.89, with a decline of 3.1% in the last 24 hours.
Shiba Inu and Dogecoin going strong
Coming to Elon Musk’s favourite meme currencies, both Shiba Inu and Dogecoin marked big gains yet again.
Related Read: Elon Musk’s crypto holdings & how they’ve performed in 2021
While Shiba Inu climbed 16.75% in 24 hours, Dogecoin gained by 6.01% over the last seven days.
At the time of writing, on 27 October, Shiba Inu traded at US$0.00005223, up by 25.4%, while Dogecoin was at US$0.260, down by 1.4%.
Solana consistently performing well
Next, we would talk about Solana crypto.
It is noted that Solana is consistently doing well for quite some time. Further, forecasts that crypto is going to offer impressive performance in the next phase of the bull cycle are making rounds.
Must Read: Solana (Sol) Price Prediction: Bears stronger than bulls for now
SOL, the in-house currency of Solana, is currently priced at US$203.59, down by 2.2%.
As per reports on Monday, TVL, i.e., the total value locked in Solana crypto touched new heights of around US$13.91 billion.
Ethereum rises too
Ether, the token of Ethereum, too witnessed price gains. Currently, it has reached the US$4,256.54 mark, with a close to 11% growth over one week.
Bottom Line
The crypto market can often be described as an untamed horse, on some days, it goes wild, while the rest of the days, it seems losing that vigour. Seasoned and wise crypto investors make the most of such game-changing moments and trade accordingly.
